IHC

IHC subsidiary International Securities launches global trading platform

Through the launch of this new trading platform, International Securities is expected to double its customer base over the next 18 months

Salik

Dubai’s Salik soars in trading debut after huge IPO order book

The Middle East has been one of the most active IPO markets in 2022

Oman

Oman seeks to deepen capital markets with eye on Gulf IPO boom

Oman and Bahrain are the only countries in the GCC not classified as emerging markets by MSCI

ADX-MSX MoU_oman

UAE’s ADX, Muscat Securities Market sign MoU to enhance cooperation

The agreement aims to enhance bilateral cooperation and information sharing in a number of areas, including advisory services, and training and development of systems

Tabby, Paymob partner

Tabby, Paymob collaborate to boost growth among retailers in Egypt

Businesses across Paymob’s network will benefit from Tabby’s ‘split into four’ interest and fee-free payment solution via Paymob’s gateway

Further Ventures to support startups

Further Ventures launches $200m fund, backed by Abu Dhabi’s ADQ  

Further will partner with entrepreneurs, as an institutional co-founder, to launch and grow new ventures from ideation to exit

ADGM's FSRA amends capital markets framework

ADGM’s FSRA amends capital markets framework to bolster investment activities

The changes, first proposed in March, received a significant and supportive response from the industry and wider stakeholders

amana_CEO_Muhammad Rasoul

Neo broker amana launches trading app, offers access to regional and global markets

The platform offers stocks, commodities, ETFs, currencies and crypto among other assets through the app

HSBC Saudi Arabia promotes Faris Alghannam to CEO role

Alghannam has been with HSBC Saudi Arabia since 2011

Global bonds tumble as UK tax cuts deliver fresh headwinds

Equities and other risk assets also dropped and the pound sank to a record low

burjeel hospital

UAE healthcare provider Burjeel Holdings to sell 11% stake in IPO

The subscription period for institutional and retail investors will open on September 30 and close on October 4

Salik

Dubai toll operator Salik raises over $1bn from IPO

Salik is expected to commence trading on the Dubai Financial Market on September 29

stocks

Tech stocks brace for more bleeding as Fed ratchets up rates

Technology and other growth stocks have been battered this year amid slowing economic growth and soaring interest rates

CBUAE raises interest rate as of September 22

CBUAE, Gulf central banks raise interest rates following US Fed rate hike

The US Federal Reserve raised its benchmark interest rate by three-quarters of a percentage point to a range of 3 to 3.25 per cent on Wednesday

Changpeng Zhao, founder and CEO of Binance,

Binance secures MVP licence from Dubai’s Virtual Assets Regulatory Authority

The licence is an important milestone that follows a number of registrations for Binance’s local entities in the MENA region and across Europe in Italy, France and Spain

Gold shows ‘resilience’ as eyes turn to size of Fed’s rate hike

Bullion, which hovered above $1,700 an ounce for the first half of September, plunged below that mark last week

EFG Hermes Holding hosts 16th annual conference in Dubai

EFG Hermes Holding hosts 16th annual conference in Dubai

Around 205 companies from 33 countries are participating in the conference, which is themed ‘Weathering Inflation – Finding Focus in Frontier Emerging Markets (FEM)’

HSBC executes first blockchain transaction for Middle East’s automotive sector

The Contour platform deploys decentralised technology to integrate digital networks for transfer of data across trade routes

Lazard names a woman as Saudi chair to grow Mideast advisory unit

Sarah Al-Suhaimi was named chair of the Saudi stock exchange in 2017

Crypto

Bitcoin, Ether extend crypto selloff as big Fed rate hike looms

An Ether jump since mid-June that was spurred by hype around an upgrade of the Ethereum blockchain is rapidly unwinding

The current state of the Middle East’s wealth management industry

Digitalisation and new technologies also continue to emerge and sweep across many sectors, and the wealth management industry is no exception

Dubai’s toll operator Salik boosts IPO size from 20% to 24.9%

The company’s starting market capitalisation is expected to be $4.1bn

ENOC, Emirates NBD collaborate for payment solutions

Emirates NBD enables H2H digital payment solutions for ENOC Group

The H2H implementation has facilitated the automation of treasury cycles and reconciliation processes through scheduled transmissions

Gold steadies after sinking to two-year low as rate hike looms

Bullion had been hovering above $1,700 an ounce for most of September

Citi Saudi Arabia CEO Wassim Al Khatib resigns just a year after joining bank

The bank appointed Al Khatib as its CEO in the kingdom in 2021

Ethereum

Ethereum completes long-awaited energy-saving ‘Merge’ upgrade

Ether surged more than fivefold in 2021, outperforming Bitcoin by a wide margin, in part on optimism over the Merge

UAE israel education

Sheikh Abdullah bin Zayed arrives in Tel Aviv on Abraham Accords’ second anniversary

Besides the UAE foreign minister’s latest visit, we take stock of the key developments and events since the signing of the historic accords

Digital Vat-refund scheme launched in UAE_ Photo courtesy WAM

UAE’s Federal Tax Authority, Planet Tax Free launch digital VAT-refund scheme for tourists

The 100 per cent paperless process is expected to save more than 16,800 trees per year and more than 4,000 tonnes of carbon dioxide emissions

Investopia SALT MoU

UAE’s Investopia and Salt announce new strategic partnership to stage event

Salt and Investopia will work together to organise a prestigious, invitation-only conference featuring the world’s leading investors, entrepreneurs and policy experts